This report analyzes and compares FLOWSERVE's employee health insurance and employee benefits with its industry and in Texas State.
Providing a smart employee benefits package is critical for attracting top talent and retaining valuable employees. Today, employee benefits play a vital role when candidates consider accepting a job offer.
Many companies offer today over-the-top perks, like yoga classes, haircuts, catered meals, and acupuncture. In this report, we focus however on traditional benefits. It's a work in progress that we will expand and update on a regular basis.
This report contains the following sections
Career benefits
FLOWSERVE has superb career benefits that have a great impact on employees' career. There are several coaching and mentoring programs, as well as onboarding program for new employees to help them fit in the FLOWSERVE. superb tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FLOWSERVE believes that career planning of each employee is a key to a successful business and offers solid opportunities so that the employees can reach their full potential. FLOWSERVE has solid resources at its disposal to achieve this goal.
- COACHING AND MENTORING: FLOWSERVE offers first-class coaching and mentoring programs through which every employee gets the support and resources to become a valuable member of the team.
- DEVELOPMENT RESOURCES: FLOWSERVE offers top-notch development resources to enable its employees to grow on a personal and a professional plan. With access to top-notch intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: FLOWSERVE has a suitable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: FLOWSERVE does not offer leadership programs.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why FLOWSERVE offers an outstanding Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, FLOWSERVE implemented a valuable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: FLOWSERVE realizes that continuous education is a key to success so it has an outstanding Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | FLOWSERVE | Industry | Texas |
|---|---|---|---|
| Career planning Benefits | |||
| Coaching and mentoring Benefits | |||
| Development resources Benefits | |||
| GED reimbursement Benefits | |||
| Leadership programs Benefits | |||
| Onboarding Benefits | |||
| Recognition programs Benefits | |||
| Tuition reimbursement Benefits |
Healthcare benefits
FLOWSERVE offers top-notch health benefits to its employees, of which some can be used by employee's family members. Besides an affordable healthcare insurance and a dental plan that includes recounstruction surgery, team members can enjoy FLOWSERVE's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FLOWSERVE does not offer counseling.
- DENTAL PLAN: FLOWSERVE cares about its team members' dental health so it offers an extraordinary dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: FLOWSERVE offers a first-class health insurance for every employee. Various exams and procedures are covered, as well as comprehensive health plans.
- HEALTH PLAN INCENTIVES: FLOWSERVE is aware of the fact that a healthy employee is a productive employee so it offers excellent health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, FLOWSERVE offers a valuable healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: FLOWSERVE offers an extraordinary maternity support program which enables expecting mothers to access quality resources, administrative assistance, and support every single day.
- TELEHEALTH: FLOWSERVE has an outstanding telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: FLOWSERVE offers a valuable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | FLOWSERVE | Industry | Texas |
|---|---|---|---|
| Counseling Benefits | |||
| Dental Plan Benefits | |||
| Health Insurance Benefits | |||
| Health Plan Incentives Benefits | |||
| Healthcare Spending Accounts Benefits | |||
| Maternity support program Benefits | |||
| Telehealth Benefits | |||
| Vision Plan Benefits |
Financial benefits
FLOWSERVE offers top-notch financial benefits for employees and their family members. A top-notch 401(k) plan makes sure that employees have a secure retirement, while a generous, fully paid parental leave allows expecting mothers and fathers to enjoy their child's first year. Along with paid vacations, employees can enjoy fully paid commuting as well.
- 401(K) PLAN: FLOWSERVE has a first-class 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. FLOWSERVE provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a first-class FLOWSERVE has Matching program that matches 75% of employees' contributions. Whatever FLOWSERVE contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave FLOWSERVE. Recognizing that every team member is unique, with specific needs and goals, FLOWSERVE keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: FLOWSERVE has a top-notch Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by FLOWSERVE.
- BONUS PAY: FLOWSERVE has an outstanding bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.
- CHILDCARE DISCOUNT: FLOWSERVE does not offer childcare discount.
- COMMUTER BENEFIT: FLOWSERVE has a good commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: FLOWSERVE has a valuable daycare spending account that fills from each paycheck before taxes. This allows team members to partially cover costs of daycare while they are at work.
- DISABILITY: FLOWSERVE has a suitable disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: FLOWSERVE has a top-notch life insurance program and offers fully paid life insurance policies for its team members. The policy pays around two years worth of salary to employees' beneficiaries. Option to buy additional coverage is available for every team member.
- PAID TIME OFF: FLOWSERVE has an extraordinary vacation program for its team members with a great deal of paid vacation days. Team members can spend those days at their own pace, any time of the year. Various national and personal holidays are taken into account as well.
- PAID VOLUNTEER TIME OFF: FLOWSERVE recognizes the importance of giving back to the community so it offers a good volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by FLOWSERVE, on volunteer work of their choice.
- PARENTAL LEAVE: FLOWSERVE has a great parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FLOWSERVE | Industry | Texas |
|---|---|---|---|
| 401(k) plan Benefits | |||
| Adoption assistance reimbursement Benefits | |||
| Bonus pay Benefits | |||
| Childcare discount Benefits | |||
| Commuter benefit Benefits | |||
| Daycare flexible spending account Benefits | |||
| Disability Benefits | |||
| Life insurance Benefits | |||
| Paid time off Benefits | |||
| Paid volunteer time off Benefits | |||
| Parental leave Benefits |
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